1
Q
What kind of assurance does an auditor provide on compilations?
A
No assurance is provided for compilations on the reliability of FS
2
Q
Is independence required for compilation?
A
NO
3
Q
Does city and state where the accountant practices need to be included in the report?
A
Yes
4
Q
After identifying related party transactions what should the auditor do?
A
Make sure they were approved by the board
5
Q
When are tests of controls required?
A
when the A wishes to assess the ROMM at a low level
6
Q
An integrated audit under SOX requires an opinion on what?
A
FS and internal control
7
Q
When should the compilation report be dated?
A
When the compilation procedures are completed
Audit
flashcards
Decks in class (21)
# Cards
-
Audit Diagnostic Exam19
-
Audit17
-
Planning Activities18
-
Analytical Procedures18
-
Internal Control47
-
Payroll etc.26
-
Be Audit you can be26
-
You can Account on me22
-
Sampling35
-
Review22
-
Components31
-
You can do it!37
-
Other32
-
I can do all things30
-
Be a champion35
-
He will lift you up with wings like eagles3
-
Ratios12
-
Reviewing32
-
New66
-
Compilations7
-
Review Report11
